This deal offers an outstanding buy to let remortgage rate at just 1.54% over two years, and the free standard valuation and free standard legals that come with it – plus the opportunity to add the lender fee to the loan means you can keep upfront costs to a minimum.

If you have been struggling to borrow the loan amount you require elsewhere and are not looking to raise capital, the 125% rental coverage available with this deal means the upper loan limit is particularly generous.

Flexibility on property type is another feature, subject to valuer comments. That means your flat with deck access, ex-local authority home or flat roof property (and more) will be considered by this lender.

PLUS, length of time in employment is not a factor if you are employed, for the self-employed 1 years SA302’s is accepted (where other lenders look for 2 or 3 years documentation).

1.54% 2-year fixed buy to let remortgage

1.54pc 2-year fixed buy to let remortgage

Product type

Initial rate

Max. Loan to Value

Product fee

*ERC's

2-year fixed

1.54%

60%

£1,495

For 2-years

*Early Repayment Charge

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Affordability calculations:

If you are looking to remortgage on a pound for pound basis, i.e. you are looking to borrow the same amount on remortgage as the value of your existing mortgage, your rental income amounts may be under less pressure with this lender.

Rental coverage without capital raising is calculated at a rate of 125% (some other lenders require 145%). Mortgage affordability is calculated at a stressed rate of just 5.00%.

Capital raising is possible on the deal, but rental coverage becomes 145%, at a stressed rate of 5.50% and you must not be a portfolio landlord.

Number of properties:

The number of properties you can own will depend upon the purpose of your loan application.

If you are looking to remortgage on a pound for pound basis, you can own up to a maximum of seven mortgaged rental properties at completion of the deal.If you are looking to raise capital, you can own a maximum of three mortgaged rental properties at completion of the deal.

Tenancy type:

This lender will accept your application if you operate an Assured Shorthold Tenancy of between six months and 12 months, which includes the Scottish or Northern Irish equivalent.

Your property can be let to a maximum of three tenants, including students, but they must have a single tenancy agreement, which covers the whole property.